Teekay Stock To Go Ex-dividend Tomorrow (TOO)

NEW YORK ( TheStreet) -- The ex-dividend date for Teekay Offshore Partners (NYSE: TOO) is tomorrow, August 3, 2011. Owners of shares as of market close today will be eligible for a dividend of 50 cents per share. At a price of $29.22 as of 10:03 a.m. ET, the dividend yield is 7%.

The average volume for Teekay has been 143,700 shares per day over the past 30 days. Teekay has a market cap of $1.8 billion and is part of the services sector and transportation industry. Shares are up 4.4% year to date as of the close of trading on Monday.

Teekay Offshore Partners L.P. provides marine transportation and storage services to the offshore oil industry. The company has a P/E ratio of 23.5, above the average transportation industry P/E ratio of 22.5 and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Teekay as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including generally poor debt management, disappointing return on equity and weak operating cash flow. You can view the full Teekay Ratings Report.

See our dividend calendar or top-yielding stocks list.

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